Tax Planning for Sending Your Kids to College

Higher education comes with a higher and higher cost. Take advantage of tax breaks to ease the financial pain.

The big day has finally arrived. Your son or daughter applied to colleges, sifted through the acceptances, and decided where to spend the next four (or five or more) years. Now all you have to do is figure out how to pay for it. Luckily, Uncle Sam offers several ways to ease the sting of rising tuition costs. Which tax breaks work for you will depend on your income, your child's student status and the source of your education funding.

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